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Sorry - that was from a comment below, and wasn't really what I was responding to. 'Their' means HSBC. Assuming the documentary is accurate - that HSBC was the
by freddybobs 9y ago
Sorry - that was from a comment below, and wasn't really what I was responding to. 'Their' means HSBC.
Assuming the documentary is accurate - that HSBC was the go to bank for money laundering. That was a big part of their business. That they went out of their way to hide transactions from the government (like transactions to ISIS and cartels). When caught they repeatedly got away with a shrug. That 100k people have been murdered related to mexican cartels - and the claim is that mexican cartels couldn't have operated at that scale without HSBC.
I was responding to the comment below that seemed to be saying the fine was 'big enough'. Which the documentary didn't agree with. The people that brought the charges and investigated HSBC didn't think so. Neither did the journalists who were there when the government tried to pass off the deal as a big success. The management didn't lose jobs. The worst that happened to them was that part of their bonuses were kept back.
Oh and the government dropped all charges in 2017. That part of the deal was the charges remained - ie they did commit crime but suspended sentencing.
https://www.reuters.com/article/us-hsbc-usa/hsbc-draws-line-under-mexican-cartel-case-after-five-years-on-probation-idUSKBN1E50YA https://www.reuters.com/article/us-hsbc-usa/hsbc-draws-line-...
https://inhomelandsecurity.com/hsbc-cartel-money-laundering/ https://inhomelandsecurity.com/hsbc-cartel-money-laundering/
https://www.rollingstone.com/politics/news/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213 https://www.rollingstone.com/politics/news/outrageous-hsbc-s...
(edit: grammar/spelling fixes)